I expected oil investment in 2023 to reach the highest level since 2015
The International Energy Agency confirmed that the global oil supply decreased by 660 thousand barrels per day to 101 million barrels per day in May, following additional cuts by some OPEC producers.
The agency indicated that oil investment is sufficient to meet the expected demand until 2028.
The agency expects oil investment in 2023 to reach the highest level since 2015.
The agency added that the year 2024 will witness the end of demand recovery after the pandemic, with a growth of 860,000 barrels per day.
The Energy Agency expected a decline in annual oil demand growth from 2.4 million barrels per day this year to 400,000 barrels per day in 2028.
2023-06-14 11:16:33
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